ADNOC Offshore Gas Financing Secures $11 Billion Boost

ADNOC offshore gas financing hits a key target with an $11 billion deal. This funding powers major projects off Abu Dhabi’s coast. The agreement moves production forward for the UAE’s energy needs. Funding Agreement Takes Shape Abu Dhabi National Oil Company (ADNOC) closes a big non-recourse loan worth up to $11 billion, or AED 40.4 billion. ADNOC works with Italy’s Eni S.p.A. and Thailand’s PTT Exploration and Production Public Company Limited, known as PTTEP. The deal turns future gas sales into cash now from the Hail and Ghasha midstream plants.​ Banks offer low rates because ADNOC locks in a steady gas supply.